The real estate company of Kulhman and Associates has five sales people. Listed below is the number of homes sold last month by each of the five associates. Bruce Kulhman, the owner, wants to estimate the population mean number of homes sold based on samples of three.
Associate Number of Homes Sold
A. Sue Klaus 6
B. John Bardo 2
C. Jean Cannon 5
D. A.J. Kemper 9
E. Carol Ford 3
a. If samples of size 3 are selected, how many different samples are possible (show work by hand)?
b. List the various samples and compute the mean of each (show work by hand).
c. Develop a sampling distribution of the means (by hand or by computer).
d. Draw graphs to compare the variability of the sampling distribution of the mean with that of the population (by hand or by computer). Discuss.